UNIVERSAL HEALTH SERVICES INC UHS
Our principal business is owning and operating, through our subsidiaries, acute care hospitals and outpatient facilities and behavioral health care facilities.
As of February 25, 2026, we owned and/or operated 375 inpatient facilities and 168 outpatient and other facilities located in 40 states, Washington, D.C., the United Kingdom and Puerto Rico. We have changed the method of our outpatient behavioral health care facility counts during the third quarter of 2025 and substantially all of the increase from prior periods is related to that change in convention.
•13 outpatient centers & 1 surgical hospital.
Behavioral health care facilities (346 inpatient facilities and 119 outpatient facilities):
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.36B | $15.83B | $14.28B | $13.40B | $12.64B | $11.56B | $11.38B | $10.77B | $10.41B | $9.77B |
| Total operating expenses | $15.37B | $14.15B | $13.11B | $12.40B | $11.28B | $10.20B | $10.16B | $9.60B | $9.13B | $8.48B |
| Operating income | $1.99B | $1.68B | $1.18B | $1.00B | $1.36B | $1.36B | $1.22B | $1.18B | $1.28B | $1.28B |
| Interest expense | $156.1M | $186.1M | $206.7M | $126.9M | $83.7M | $106.3M | $162.7M | $155.0M | $145.2M | $125.1M |
| Pre-tax income | $1.97B | $1.50B | $940.4M | $866.3M | $1.29B | $1.25B | $1.07B | $1.03B | $1.14B | $1.16B |
| Income tax | $461.0M | $334.8M | $221.1M | $209.3M | $305.7M | $299.3M | $238.8M | $236.6M | $363.7M | $409.2M |
| Net income | $1.51B | $1.16B | $719.3M | $657.0M | $987.6M | $944.0M | $814.9M | $779.7M | $752.3M | $702.4M |
| EPS, basic | 23.42 | 17.16 | 10.35 | 9.23 | 11.99 | 11.06 | 9.16 | 8.35 | 7.86 | 7.22 |
| EPS, diluted | 23.10 | 16.82 | 10.23 | 9.14 | 11.82 | 10.99 | 9.13 | 8.31 | 7.81 | 7.14 |
| Shares, diluted (wtd. avg.) | $64.5M | $67.9M | $70.1M | $73.8M | $83.7M | $85.6M | $89.0M | $93.8M | $96.3M | $98.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $137.8M | $126.0M | $119.4M | $102.8M | $115.3M | $1.22B | $61.3M | $105.2M | $74.4M | $33.7M |
| Receivables | $2.60B | $2.18B | $2.24B | $2.02B | $1.75B | $1.73B | $1.56B | $1.51B | $1.50B | $1.44B |
| Total current assets | $3.41B | $2.82B | $2.81B | $2.54B | $2.26B | $3.28B | $1.92B | $1.94B | $1.80B | $1.68B |
| Property, plant and equipment | $7.01B | $6.57B | $6.12B | $5.92B | $5.87B | $5.37B | $5.02B | $4.85B | $4.57B | $4.33B |
| Goodwill | $3.99B | $3.93B | $3.93B | $3.91B | $3.96B | $3.88B | $3.87B | $3.84B | $3.83B | $3.78B |
| Other intangibles | $75.9M | $76.3M | $77.0M | $78.1M | $81.0M | $82.6M | $83.7M | $173.0M | $220.0M | $228.0M |
| Total assets | $15.53B | $14.47B | $13.97B | $13.49B | $13.09B | $13.48B | $11.67B | $11.27B | $10.76B | $10.32B |
| Accounts payable | $750.1M | $632.0M | $614.0M | $636.6M | $658.9M | $570.5M | $447.0M | $445.7M | $442.0M | $439.7M |
| Short-term debt | $748.2M | $40.1M | $126.7M | $81.4M | $48.4M | $332.0M | $87.5M | $63.4M | $545.6M | $105.9M |
| Total current liabilities | $3.24B | $2.21B | $2.01B | $1.91B | $1.98B | $2.48B | $1.56B | $1.45B | $1.85B | $1.32B |
| Long-term debt | $4.00B | $4.46B | $4.79B | $4.73B | $4.14B | $3.52B | $3.90B | $3.94B | $3.49B | $4.03B |
| Retained earnings | $7.99B | $7.37B | $6.80B | $6.53B | $6.60B | $6.75B | $5.93B | $5.79B | $5.35B | $4.89B |
| Total equity | $7.28B | $6.67B | $6.20B | $5.97B | $6.19B | $6.40B | $5.58B | $5.47B | $5.05B | $4.60B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.86B | $2.07B | $1.27B | $996.0M | $883.7M | $2.36B | $1.44B | $1.27B | $1.25B | $1.33B |
| Depreciation and amortisation | $594.0M | $559.6M | $535.6M | $544.0M | $501.6M | $478.8M | $455.6M | $410.0M | $388.4M | $350.8M |
| Stock-based compensation | $95.7M | $99.3M | $87.7M | $85.4M | $73.7M | $65.8M | $69.4M | $66.6M | $56.7M | $48.1M |
| Capital expenditure | $1.02B | $943.8M | $743.1M | $734.0M | $855.7M | $731.3M | $634.1M | $665.0M | $557.5M | $519.9M |
| Investing cash flow | -$1.07B | -$911.1M | -$763.3M | -$647.3M | -$914.5M | -$802.6M | -$688.4M | -$747.2M | -$684.7M | -$1.16B |
| Financing cash flow | -$749.7M | -$1.14B | -$493.9M | -$318.4M | -$1.07B | -$384.9M | -$845.0M | -$492.2M | -$519.2M | -$171.2M |
| Dividends paid | $51.3M | $53.3M | $55.5M | $58.4M | $65.9M | $17.3M | $53.0M | $37.3M | $38.2M | $38.9M |
| Buybacks | $968.0M | $670.8M | $547.4M | $832.9M | $1.22B | $206.7M | $770.5M | $397.4M | $364.4M | $353.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-148814.
Others in SIC 8062
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|---|---|---|---|---|
| HCA | HCA Healthcare, Inc. | $89.85B | 14.3x | 7.1% |
| THC | TENET HEALTHCARE CORP | $21.34B | 17.1x | 3.1% |
| SGRY | Surgery Partners, Inc. | $1.87B | — | 6.2% |
| ARDT | Ardent Health, Inc. | $1.54B | 11.4x | 6.0% |
| CYH | COMMUNITY HEALTH SYSTEMS INC | $407.5M | 0.8x | -1.2% |